A long-awaited insurance product for the sheep industry will be available for purchase on September 17, 2007.
On September 28, 2006, the Federal Crop Insurance Corporation's (FCIC) board of directors approved the expansion of the LRP insurance to include a lamb pilot program requested by the American Sheep Industry Association (ASI).
LRP-Lamb is designed to insure against unexpected price declines in market prices of lambs. Sheep producers may select 13-week, 26-week, or 39-week insurance periods. LRP-Lamb is available to sheep producers in 27 states (not Maryland).
ASI is developing an online training course detailing the features of LRP-Lamb. It is expected to be available in August at www.sheepusa.org.
Source: ASI press release, 07.18.07